For Week Ending February 18, 2017
In much of the country, both new and existing home sales increased in January. At the same time, prices continue to rise in year-over-year comparisons, and the number of homes available for sale remains quite low. The low inventory situation and affordability crunch is particularly hard on first-time buyers, leaving some properties available for landlord buyers with more available funds for investment.
In the Twin Cities region, for the week ending February 18:
- New Listings decreased 6.5% to 1,334
- Pending Sales increased 11.1% to 989
- Inventory decreased 23.8% to 8,751
For the month of January:
- Median Sales Price increased 4.7% to $225,000
- Days on Market decreased 7.1% to 79
- Percent of Original List Price Received increased 0.9% to 95.9%
- Months Supply of Inventory decreased 26.1% to 1.7
All comparisons are to 2016
Click here for the full Weekly Market Activity Report. From The Skinny Blog.